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Tough trading conditions in the restaurant sector have prompted operator Tasty to take a multi-million pound write-down on some of its sites as it predicted the consumer spending squeeze would extend into 2018.

The owner of the Wildwood and dim t chains of restaurants said the entire sector had been suffering a slowdown since the beginning of 2017 and that this was set to continue into next year.

“This is not unique to the group or any particular area but appears to be a nationwide problem, particularly evident in London, and has impacted turnover and profit,” said chairman Keith Lassman.

These fears appear to have spooked shareholders with the stock down nearly 11pc to 37.5p in early trading....